One of the reasons I like reading Paul Krugman is that he can hit the nail on the head in very plain language:
To me — and I’m not alone in this — the sudden outbreak of deficit hysteria brings back memories of the groupthink that took hold during the run-up to the Iraq war. Now, as then, dubious allegations, not backed by hard evidence, are being reported as if they have been established beyond a shadow of a doubt. Now, as then, much of the political and media establishments have bought into the notion that we must take drastic action quickly, even though there hasn’t been any new information to justify this sudden urgency. Now, as then, those who challenge the prevailing narrative, no matter how strong their case and no matter how solid their background, are being marginalized.
Come on my media friends. Stop the groupthink. This is so much like when I covered pro sports. If one of the big papers had it, you (meaning your smaller paper) had to report it too.
Read his full column here before you have to pay for it.